Vancouver, British Columbia -- Bell Copper Corporation ("Bell" or the "Company") (NEX: BCU.H) is pleased to announce that it has started drilling hole K-12 on its Kabba porphyry copper project in Arizona. Drillhole K-12 is targeting a zone of coincident electrical geophysical anomalies in the concealed hangingwall block of the faulted porphyry system. Funding for the drilling is being provided by Kennecott Exploration Company (KEX). Kennecott's expenditure will accrue toward its obligation under the earn-in agreement announced on April 19.
Under the agreement, Kennecott Exploration Company (KEX), part of the Rio Tinto Group, has the right to earn a 51% interest in the Company's Kabba porphyry copper project by spending US$ 3,000,000 on the project over the next 5 years. If KEX earns 51% in the first option, KEX has a second option to earn an additional 19% in the project by spending an additional US$ 10,000,000 over the eight years following the first option period.